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News

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Texas Land Leases For Oil Exploration Rise, Income Falls

Jan 18, 2017 at 10:43 | Irina Slav

Demand for public land in Texas from energy companies has gone up since July 2016, but income from the leases has dropped, reflecting the low oil prices that have left…

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Argentina, Bolivia Seal Gas Exploration Deal

Jan 18, 2017 at 10:35 | Irina Slav

The state-owned companies of Argentina and Bolivia, YPF and YPFB, respectively, have signed an oil services agreement that will see the two partner in the exploration of the Charagua…

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Exxon More Than Doubles Permian Basin Holdings For $6.6B

Jan 17, 2017 at 17:51 | Damir Kaletovic

As Permian Basin buyers line up, Exxon Mobil (XOM) on Tuesday said it would pay up to $US6.6 billion to more than double its acreage in the superstar shale…

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Indonesia’s Pertamina To Invest $54B In Upstream By 2025

Jan 17, 2017 at 17:41 | Tsvetana Paraskova

Indonesia’s state-held energy company Pertamina plans to invest US$54 billion in upstream production by 2025, with the purpose to raise its oil, gas and geothermal output by 185 percent, spokeswoman…

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Airbus To Test Flying Car Prototype By End-2017

Jan 17, 2017 at 17:32 | Tsvetana Paraskova

Airbus expects to test by the end of the year a prototype of an autonomous flying car that could potentially help ease city traffic at some point in the future,…

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NPDC Pipeline Set Ablaze Less Than 24 Hours After Vice Presidential Visit

Jan 17, 2017 at 16:57 | Zainab Calcuttawala

Nigerian Vice President Yemi Osinbanjo’s visit to the Niger River Delta didn’t usher in the period of peace for which Lagos had hoped. Less than a full day after the…

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Noble Energy Boosts Permian Presence With Clayton Williams Buy

Jan 17, 2017 at 16:41 | Irina Slav

Independent oil and gas player Noble Energy said it will buy smaller peer Clayton Williams Energy in a bid to expand its footprint in the Permian shale play. The

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Russia, Yukos Back In Court Over $50 Billion Appeal

Jan 17, 2017 at 13:11 | Tsvetana Paraskova

Former shareholders of the now-defunct oil giant Yukos and Russian government lawyers began procedures on Monday for an appeal over US$50 billion that Moscow and ex-Yukos shareholders have been dragging…

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Iran Scores Again with Insurance Coverage On Oil Cargoes

Jan 17, 2017 at 11:05 | Irina Slav

International insurance companies have found a way around U.S. sanctions on Iran still in place and will now offer almost complete cover on outgoing crude oil shipments, Reuters writes…

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World’s Largest Oil Refinery Increases Profit Despite Tough Market

Jan 17, 2017 at 09:13 | Zainab Calcuttawala

India-based Reliance Industries boasted a 10 percent increase in profits on Monday for the fourth quarter of 2016, according to the company’s latest corporate report. The conglomerate’s refining operations…

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